Euro 45 mn Italian construction equipment company seeking to establish its presence and later exit India

Case Study

About the Client:

One of the leading Italian companies engaged in the stone cutting sector. The Company manufactures and sells diamond tools for marble, granite and engineered stone.
The product profile includes diamond blades, discs and wire, tools for smoothing and polishing and for numerical control machines. The Company has a presence in more than 30 countries across the world.

Client Need:

The client was in discussion with a potential partner and wanted to incorporate a company as an EOU.
Later due to bandwidth and issues with the potential partner, the company decided to close down operations.

Our Approach:

Managed the entire process of incorporating a wholly owned subsidiary in India and obtain statutory registrations.
Advised the client in drafting an agency and JV agreement with the potential partner.
Provided directorship services including financial supervision including authorising bank payments, supervising transactions and cash flow management.
Ensured regulatory compliances including RBI, company registrar, tax and other government authorities.
Advised the parent company and managed the closure of the Indian subsidiary including advise on the remittance of funds from India
Project managed the entire accounting, audit and all statutory compliance requirements to ensure that there were no open ends/defaults that might hinder the closure of the company.